Aluminium

BHUBANESWAR: State run National Aluminium Co Ltd has cut prices by Rs 6,000 per tonne in line with the London Metal Exchange, a senior company official said Wednesday. "We have reduced the price of all aluminium products because the LME aluminium prices have come down," said the official, who could not be named due to company policy. NALCO , the country's third-largest aluminium producer, produced 431,000 tonnes of the metal in the fiscal year to March.

NEW DELHI: Prices of copper and zinc fell by Rs 2 per kg at the non-ferrous metal market facing reduced demand from consuming industries. Traders said besides reduced offtake by consuming industries, a weak global trend led to decline in copper and zinc prices. In the national capital, copper mixed scrap and zinc ingot traded lower by Rs 2 each to Rs 390 and Rs 104-110 per kg, respectively. Following are today's metal rates (in Rs per kg): Zinc ingot...

NEW DELHI: Prices of aluminium rose further by Re 1 per kg at the non-ferrous metal market today on increased buying by stockists amid a firming global trend. Traders said buying activity in aluminium picked up after it shot up in global markets before jobless claims and pending home sales in the US, the second biggest consumer of metals, and as stockpiles fell to a six-year low. Meanwhile, aluminium for delivery in three months rose 0.1 per cent to USD 1,740.50 a metric tonne on the ...

NEW DELHI: The government on Thursday said a core group on automative R&D (CAR) has suggested increased use of aluminium in automobiles to save fuel costs. "The technology roadmap drawn by CAR has suggested increased use of aluminium as it would result in light-weight automobile bodies saving fuel," Minister of State for Heavy Industries and Public Enterprises Kanti Singh said in a written reply in Lok Sabha. Singh said the suggestion was given despite...

NEW DELHI: Mining conglomerate Vedanta Resources today said it is planning to restructure high-cost operations in aluminium segment and has suspended ramp-up at its plant due to volatile commodity market. The firm, led by Anil Agarwal , has been facing a challenging environment as global commodity prices are undergoing a volatile phase leading to downward pressure on prices, affecting the company's profit and revenue. "In light of the low LME ( London...

MUMBAI: Natural resources conglomerate Vedanta reported first quarter adjusted net profit of Rs 865.94 crore, down 35 per cent from Rs 1341.23 crore posted in the same quarter last year, mainly hurt by falling oil and aluminium prices. Sales at the Anil Agarwal company fell 1 per cent to Rs 16,951.8 crore. Analysts were expecting an adjusted profit of Rs 702.9 crore on revenue ofRs 17,511.9 crore, according to a Bloomberg poll. "In the first quarter, we saw...

MUMBAI: First, it was in aviation, then automobiles, and now in trains. In a bid to increase consumption, the aluminium industry is going all out to promote the use of the metal in railway coaches and wagons for the first time. This has sparked off a confrontation between aluminium and steel firms, as the latter considers the Railways to be their stronghold. While lobbying for and against the move continues, the Lucknow-based office of the Indian Railways' Research Design &...

NEW DELHI: The government is likely to impose safeguard duties ? temporary levies to check import surges ? on aluminium to restrict imports from China which has more than doubled in the current fiscal. The board of safeguards will take a decision on the level of duties to be imposed based on the recommendation made by the directorate general of safeguards. The industry has already filed a proposal for imposition of provisional safeguard duties on aluminium which is...

MUMBAI: AUDI, the first all-aluminium car, may have stirred the imagination of aluminium producers across the globe, but Indian bureaucrats remain unshaken. Yet, in its bid to increase its content in the railways, the aluminium industry seems to have lost out, in comparison to steel. The Indian Railways, one of the largest consumers of any metal, is close to increasing offtake of steel to enhance safety parameters. Officials with the railways' Lucknow-based Research Design...

NEW DELHI: Aluminium futures declined by 0.39 per cent to Rs 113.85 per kg today largely in tandem with a weakening trend in base metals in the global markets. At the Multi Commodity Exchange , aluminium for delivery in February edged lower by 45 paise, or 0.39 per cent, to Rs 113.85 per kg, with a business turnover of 59 lots. The metal for delivery in January fell by 40 paise to Rs 112.85 per kg in a turnover of 447 lots. Marketmen said a weak trend in the entire base...

NEW DELHI: Aluminium futures prices rose by 0.46 per cent to Rs 109.95 per kg today as speculators enlarged positions, supported by a firming trend at the spot markets on strong demand even as metal weakened in the global markets. At the Multi Commodity Exchange , aluminium for delivery in January up by 50 paise, or 0.46 per cent, to Rs 109.95 per kg, with a business turnover of 735 lots. Similarly, the metal for delivery in February traded 40 paise, or 0.36 per cent, higher at Rs...

NEW DELHI: Copper advanced by Rs 2 per kg in tandem with a firming trend overseas amid rising demand from consuming industries at the non-ferrous metal market today. Traders said sentiments in copper remained firm after it climbed, extending a rebound from the lowest level in six years in global markets, on signs of supply reductions. Meanwhile, Copper for delivery in three month was up 0.7 per cent to $5,335 a metric tonne at the London Metal Exchange (LME). Besides,...

NEW DELHI: Aluminium futures traded a shade higher at Rs 104.50 per kg, largely in tandem with a firming trend in base metals at the London Metal Exchange (LME). Besides, increased demand at domestic spot markets also influenced prices. At Multi Commodity Exchange, aluminium for delivery this month rose 60 paise to Rs 104.50 per kg in a business turnover of 544 lots. Metal for delivery in August contracts also rose by a similar margin to trade at Rs 106.20 per kg in 51 lots.

NEW DELHI: Terming the market situation for domestic aluminium producers as "very challenging", Vedanta today said the firm might be forced to take "some difficult decisions" on jobs to cut costs. "It is a very challenging market situation for aluminium producers in India. We are taking all measures to keep our aluminium business steady and reduce costs. This may result in us taking some difficult decisions," Vedanta CEO Tom Albanese told PTI when asked whether the...

NEW DELHI: Copper bounced back by Rs 2 per kg today at the non-ferrous metal market today largely on firm global trend amid pick up in demand from consuming industries. However, other base metals after moving in a narrow range in scattered deals, settled at previous levels. Traders buying activity in copper picked up after it rallied from its lowest level since 2009 and industrial metals advanced as China's government said it will continue to stabilise the stock market...

NEW DELHI: Aluminium fell 0.14 per cent to Rs 104.80 per kg in futures trade today after traders reduced their exposure due to sluggish demand at the domestic spot market even as metal strengthened overseas. At Multi Commodity Exchange, aluminium for delivery in August eased 15 paise, or 0.14 per cent, to Rs 104.80 per kg in a business turnover of 14 lots. Similarly, the metal for delivery in July contracts traded lower by 10 paise, or 0.10 per cent, to Rs 103.15 per kg in 155...

BHUBANESWAR: Indian state-run National Aluminium Co Ltd has issued a tender to export 9,000 tonnes of aluminium ingots, a company source said on Wednesday. The last date to submit bids is June 8, said the official who is involved with the tender process but could not be named due to company policy. The metal would be supplied in six batches of 1,500 tonnes each till November. NALCO , whose tenders serve as an international benchmark, last...

KOLKATA: T K Chand has been appointed as the new chairman-cum-managing director (CMD) of National Aluminium Company (Nalco). Chand who has been Director (Commercial) of Rashtriya Ispat Nigam Limited (RINL), will take up his new position on Monday, July 27, 2015. The Public Enterprises Selection Board recommended his name for appointment as CMD of the Nalco in November last year after short-listing 11 candidates. The Department of Personnel issued the appointment order...

BHUBANESWAR: Ministry of mines has urged the Finance ministry to take steps to protect the domestic aluminium industry that is facing a tough time, a top official said. "Aluminium sector is...undergoing stressful situation. And we are requesting the Finance ministry to take up certain issues which are required to protect the domestic aluminium industry," said Balvinder Kumar, Secretary, Ministry of mines. Domestic aluminium industry has...